A major aim of the introduction of alternative business structures (ABS) in England and Wales was to allow new forms of capital into regulated law firms to improve market efficiency. Enabling external investment in law firms was designed to allow less reliance on short term sources of financing such as personal debt and overdrafts. The…
Legal technology and regulation
The month of May saw two technology and legal regulation issues come to light in the US. Cyber security and client communications The changing technological landscape and rising incidence of “cyber intrusion” prompted the ABA’s ethics committee to update an 18-year-old opinion on whether lawyers must use encrypted e-mail when communicating with clients. Technologically, much…
Trust and the market: Rethinking regulation
London, United Kingdom | 15 July 2016 In a fast-changing marketplace, how do regulators build public confidence and balance public protection with the need to support an open competitive market that provides high-quality, affordable services? Trust and the market: Rethinking regulation addresses this question. Chaired by broadcast journalist Krishnan Guru-Murthy, experts from several sectors share…
Legal services market study
In January 2016 the UK’s Competition and Markets Authority (CMA) began a market study on the supply of Legal Services in England and Wales, to see whether the market is working sufficiently well in the interests of consumers. The CMA is the UK’s primary competition and consumer authority. In its statement of scope, the CMA observed:…